U.S. Treasury Secretary Janet Yellen called on Friday for better international coordination on carbon-cutting policies to avoid trade frictions, days before the European Union is due to unveil a controversial carbon border tax.
* Developing countries warn of economic burdens VENICE, July 9 -
"It's important that any carbon border adjustment system focus on the degree to which a country's climate policies reduce emissions, and hence carbon content, rather than focus only on explicit carbon pricing," Yellen told a climate tax forum. Approaches could include regulatory restrictions and emissions standards, direct public investments, public subsidies to incentivize private investments, and carbon markets. The Biden administration is pursuing major public investments to decarbonize the U.S. power and transportation sectors, she said.
French Finance Minister Bruno Le Maire, speaking at the same G20 forum, called for a global minimum price for carbon emissions in the absence of a single global price. A cornerstone of Mexico's approach to emissions reduction will be more investment in clean public transportation, Herrera said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global Minimum Tax Deal Marked a Win for Yellen. Now She Must Sell It to Congress.An international deal on a global minimum tax marked an early victory for Treasury Secretary Janet Yellen. She may have a harder time convincing Congress to back it.
Read more »
WSJ News Exclusive | Afghan Translators Will Await Admission to U.S. in Other Countries, Officials SayPresident Biden is expected to announce a series of updates about the U.S. withdrawal from Afghanistan, including plans to move thousands of Afghan translators out of the country.
Read more »
Global Minimum Tax Deal Marked a Win for Yellen. Now She Must Sell It to Congress.An international deal on a global minimum tax marked an early victory for Treasury Secretary Janet Yellen. She may have a harder time convincing Congress to back it.
Read more »
The U.S. Is About to Go All in on Paying Farmers and Foresters to Trap CarbonPaying people to capture carbon in their land could be an important climate solution, if we could figure out how to quantify and enforce it.
Read more »
Cases rising sharply in US as Delta variant dominates – latest updatesHere is a look at Covid19 updates from around the world: 🇧🇷 Brazil adds 1,648 more deaths 🇺🇸 US cases rising as Delta variant dominates 🇲🇽 Mexico sees over 8,500 new cases 🇹🇳 Tunisia reports record fatalities For more:
Read more »